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Twitter Adopts "Poison Pill" to Fight Musk Takeover

Reuters2022-04-15

Twitter Inc on Friday adopted a limited-duration shareholder rights plan to protect itself from billionaire entrepreneur Elon Musk's $43 billion cash takeover offer.

Musk made the bid on Wednesday in a letter to the board of Twitter- the micro-blogging platform that has become a global means of communication for individuals and world leaders - and it was made public in a regulatory filing on Thursday.

After his TED talk on Thursday, Musk hinted at the possibility of a hostile bid in which he would bypass Twitter's board and put the offer directly to its shareholders, tweeting: "It would be utterly indefensible not to put this offer to a shareholder vote."

Under the plan, also known as a 'poison pill' strategy to resist a bid from a potential acquirer, the rights will become exercisable if anyone acquires ownership of 15% or more of Twitter's outstanding common stock in a transaction not approved by the Board.

The rights plan will expire on April 14, 2023, Twitter said.

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Comment624

  • ThinkOrSwim
    ·2022-04-18
    Yoda says: "Buy Twitter, we must". [Great] 
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  • diancik
    ·2022-04-18
    [Like] 
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  • QJ89
    ·2022-04-18
    ?
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  • MHh
    ·2022-04-17
    Drama mama
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  • FGP
    ·2022-04-17
    He is twitchy
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  • dahae
    ·2022-04-17
    A
    Reply
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    • dahae
      Q
      2022-04-17
      Reply
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    • Zhiwei996
      Somd
      2022-04-18
      Reply
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  • Katboey
    ·2022-04-17
    Hmmmmm
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  • WJ77
    ·2022-04-17
    🙄🙄
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  • carroll
    ·2022-04-17
    hi
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    • carroll
      haloo
      2022-04-17
      Reply
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  • Mich77
    ·2022-04-17
    read
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    • Mich77
      k
      2022-04-17
      Reply
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    • Mich77
      k
      2022-04-17
      Reply
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    • Mich77
      k
      2022-04-17
      Reply
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  • Michane
    ·2022-04-17
    Clever move by Twitter indeed.. Elon can now display his capable powers. Usually he will fight to get what he wanted..
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    • FGP
      He should mind his own businesses
      2022-04-17
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    • 鸟雨花香
      wah
      2022-04-18
      Reply
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  • MINH
    ·2022-04-17
    Noted 
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  • JLSE
    ·2022-04-17
    👌
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  • Aninpooh
    ·2022-04-17
    Thanks.
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  • skullsociety
    ·2022-04-17
    Ok
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  • vaicrazy
    ·2022-04-16
    Ok
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  • HanDynasty
    ·2022-04-16
    Good 
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  • JeanA
    ·2022-04-16
    Ok
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  • Seah CL
    ·2022-04-16
    K
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